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Today’s Stock Market Trading Guide: Dow Jones, Gift Nifty, and Go Digit IPO.

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Everything you should know before Friday’s Gift Nifty Live market opening is: Present Nifty signals a sluggish start; Fed officials advise against rate-cut bets as global markets decline; Today is Go Digit IPO closure; The market opens on Saturday.

Pre-market stock update for May 17, Friday: Volatility is likely to remain an order of the day for the Indian equity market as we near the conclusion of the Lok Sabha elections. That apart, global news and FII flow also weigh on the trading sentiment. 

After yesterday’s extremely volatile session, the Nifty will likely open marginally lower this morning as the global mood seems tepid. At 07:00 AM, Gift Nifty futures quoted at 22,480, suggesting a likely marginal dip on the Nifty 50 index.

Also Read M&M Shares Hit Fresh 52-Week High on Complete Stake Sale in New Delhi Centre for Sight for ₹425 Crore.

Global markets

Overnight, the US market ended off record highs after several Federal officials warned that the central bank still needed more confidence to cut interest rates and that the timing of the move remained uncertain.

Vodafone Idea Ltd

Dow Jones crossed the 40,000 mark in intra-day deals, but eventually settled at 39,869, down 0.1 percent. The S&P 500 and Nasdaq slipped 0.2 percent each.

The US 10-year bond yield remained subdued around 4.365 per cent, near about five week lows. Among commodities, Gold futures eased back to $2,380 levels, while Brent Crude Oil continued to hover around $83 per barrel.

Equity markets in the Asia Pacific region were all in red this morning. Japan’s Nikkei declined 0.8 percent. The Australian benchmark indices fell 0.4 percent, and Malaysia’s Kospi was down 0.3 percent.

Trading strategy for Friday, May 17 – Should you be a buyer or seller today? Here’s what market experts recommend:

On the technical front, the 22,300 zone is likely to cushion upcoming blips, while 22,200-22,100 is likely to act as the next support zone for Nifty, said – Osho Krishan, Sr. Analyst – Technical & Derivative Research at Angel One.

On the higher end, 22,500-22,600 is very much in the vicinity of the bulls, especially with the kind of momentum seen on the weekly settlement session, the analyst added.

Neeraj Sharma, AVP of Technical and Derivatives Research at Asit C. Mehta Investment Intermediates too believe that the Nifty could rally to 22,500–22,600 levels in the near term. The analyst said, technically, the Nifty has surpassed the hurdle of 22,310, where the 21-day exponential moving average (21-DEMA) was placed and managed to close above it, indicating strength. Also Read Gift Nifty Live, Global Markets Hint Gap-Up Open on May 16; FIIs Trade in Focus.

Rupak De, Senior Technical Analyst at LKP Securities recommends that the over the next few days, the bulls might have the upper hand in the market as the Nifty moved above the critical moving average after several days. On the higher side, the Nifty might move towards 22,600 in the short term. Support on the lower end remains at 22,250.

Stocks in focus

Among individual stocks, Vodafone Idea will be in focus after the telecom major said it loss widened to Rs 7,674 crore in the March 2024 quarter. Gail India too will see some action after the company reported near 3-fold jump in net profit at Rs 2,469 crore.

On Friday, Amber Enterprises, Atul Auto, Balkrishna Industries, Balrampur Chini, Bandhan Bank, Delhivery, GlaxoSmithKline Pharma, Godrej Industries, JB Chemicals, JSW Steel, LT Foods, NHPC, Pfizer, The Phoenix Mills, Polyplex Corporation, RCF, Rail Vikas Nigam (RVNL), Shipping Corporation of India, Shalimar Paints, Sobha, TV Today, Gift Nifty Live Universal Cables, Zee Entertainment and Zydus Lifesciences are scheduled to announce Q4 results.

Primary Market Update

Go Digit General Insurance IPO closes today. The issue was subscribed up to 79 per cent as of yesterday. Subscription is open in the price range of Rs 258 – Rs 272 per share. Should you subscribe? 

Other news
Lastly, today is not the final trading session of the week as equity market will be open for normal trading tomorrow May 18, Saturday in special session. The stock exchanges are conducting this trading session to check their preparedness to handle major disruption or failure, if any, at the primary site.

Trading will be in two sessions, the first session will be from 9:15 am – 10 am on the primary site, followed shift in trading to Disaster Recovery Site (DRS) from 11:30 am – 12:30 pm.

Canara Bank Share Price Today Live Updates: Canara Bank Jumps 5% Post Stock Split; up 8% in Last Three Sessions.

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Canara Bank Live Share Price: A total of 7,39,996 retail investors owned 6 per cent stake in the bank while 337 HNIs including Rekha Rakesh Jhunjhuwala (1.45 per cent stake) owned a combined 4.65 per cent stake in the PSU lender.

119.50 INR+6.20 (5.47%)today

Open116.25
High119.55
Low116.00
Mkt cap21.70KCr
P/E ratio1.42
Div yield13.47%
52-wk high126.58
52-wk low58.27

Canara Bank Share Price Today Live Updates: Canara Bank’s stock opened at ₹557.4 and closed at ₹549.15 on the last trading day. The high for the day was ₹568.95, and the low was ₹554. The market capitalization stood at ₹102,725.13 crore. The 52-week high and low were ₹632.65 and ₹291.3, respectively. The BSE volume for the day was 487,986 shares traded.

Canara Bank Share Price Live Updates: Consensus analysts rating is Buy

Canara Bank Share Price Live Updates: The analyst recommendation trend is shown below with the current rating as Buy.

  • The median price target is ₹506.0, 325.93% higher than current market price.
  • The lowest target price among analyst estimates is ₹360.0
  • The highest target price among analyst estimates is ₹670.0
RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy6665
Buy3445
Hold1222
Sell2221
Strong Sell2000

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Canara Bank Share Price Today Live: Hourly Price Movement Update

Canara Bank Share Price Today Live: Canara Bank’s stock price reached a peak of 118.85 and a low of 118.15 in the previous trading hour. During that time, the stock price surpassed the hourly resistance of 118.58 (Resistance level 1), suggesting a positive upward trend.
The hourly support and resistance levels to watch out in the next hour are mentioned below.

Resistance LevelsPriceSupport LevelsPrice
Resistance 1119.02Support 1118.32
Resistance 2119.28Support 2117.88
Resistance 3119.72Support 3117.62

Canara Bank Share Price Live Updates: Simple Moving Average

DaysSimple Moving Average
5 Days111.11
10 Days117.33
20 Days118.44
50 Days116.90
100 Days107.50
300 Days90.39

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Canara Bank Share Price Live Updates: Canara Bank trading at ₹118.65, up 4.77% from yesterday’s ₹113.25

Canara Bank Share Price Live Updates: Canara Bank share price is at ₹118.65 and has crossed the key daily support price level of ₹543.87. This indicates that stock is experiencing significant selling pressure and the price can decline further.

Earlier this year on April 19, 2024 the public sector lender had set Wednesday, 15th May 2024 as the record date for determining entitlement of equity shareholders for the purpose of split of existing equity shares of the bank. The stock split arrangement was such that 1 equity share having face value of Rs. 10 each, will be subdivided into 5 equity shares having face value of Rs. 2 each.

A stock split makes the shares more affordable for retail investors, and the move is likely to increase trading activity on the counter. This could be particularly beneficial for smaller investors who may have been previously deterred by the higher share price.

Moreover, the stock split has the potential to broaden the bank’s retail investor base. Prior to the split, a significant portion of the bank’s ownership was held by a relatively small number of High Net Worth Individuals (HNIs), including notable investors like Rekha Rakesh Jhunjhunwala. 

It’s important to note that a stock split differs from a bonus share issue. In a stock split, existing shares are divided into multiple shares with smaller face values, while in a bonus share issue, additional shares are distributed to existing shareholders based on their current holdings. Therefore, while a stock split increases the number of shares outstanding, it does not directly impact the share capital of the company.

Canara Bank recorded a 18.33 per cent year-on-year growth to Rs 3,757 crore in January-March quarter of fiscal year 2023-24 (Q4FY24). The bank’s net interest income (NII), increased by 11.18 per cent to Rs 9,580 crore during the fourth quarter of FY24. The bank registered NII of Rs 8,617 crore in the same period of the previous year.
At 11:17 AM; the stock of the company was trading 4.55 per cent higher at Rs 118.40 per share. By comparison the S&P BSE Sensex was down mariginally by 0.04 per cent.

Also Read cannes-2024-live-updates

Pre-Market: May 14 Focus will be on Gift Nifty, Q4 Earnings, and Inflation Statistics.

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Here is all the information you require prior to the market opening on Tuesday, May 14: Gift Nifty points to a robust beginning; Zomato shares will react to Q4 Earnings; Keep an eye out for these pivotal Bank Nifty and Nifty levels.

Pre-market stock update for May 14, Tuesday:Aided by the sharp intraday rally yesterday, the NSE Nifty 50 managed to survive above the 100-DMA (Daily Moving Average) for the third straight trading session. 

The market may look to build-up on the gains, amid supportive cues from Asian peers. The focus, however, will be on the inflation data in India and the US, followed by the US Fed chief Jerome Powell speech.

Retail inflation in India eased to 4.83 per cent in April, even as food prices continued to surge. The data was release on Monday, post market hours. 

Akhil Mittal, Senior Fund Manager-Fixed Income, Tata Asset Management said the CPI numbers were in line with expectations, and hence may not have any material impact on policy / markets.

At 07:00 AM, Gift Nifty futures quoted at 22,239, suggesting a mildly positive start on the Nifty 50.

Among individual stocks Zomato will be in focus after the company posted its fourth straight quarterly net profit. 

That apart, shares of Archean Chemical, AIA Engineering, Andhra Paper, Apar Industries, Apollo Tyres, Aurionpro Solutions, Bajaj Electricals, BASF  India, Bharti Airtel, Bharti Hexacom, BLS International, Butterfly Gandhimathi, Colgate Palmolive, Devyani International, Edelweiss Financial Services, Ganesh Housing Corporation, HP Adhesives, Ideaforge Technology, Jubilant Ingrevia, Kirloskar Brothers, Man Infraconstruction, Mirco Electronics, Oberoi Realty, OnMobile Global, Patanjali Foods, PVR  Inox, Radico Khaitan, Shree Cement, Siemens, Thyrocare Technologies and Zydus Wellness will be in focus as these companies announce Q4 results today.

Trading strategy for Tuesday, May 14 – Should you be a buyer or seller today? Here’s what market experts recommend:

Osho Krishan, Sr. Analyst – Technical & Derivative Research at Angel One recommends to remain cautious amidst the rise in volatility, which may be deceptive and could trap traders on either side. He adds that traders should refrain from aggressive overnight bets, and maintain exclusivity with stock selection.

On the level-specific front, Osho expects support for the Nifty around 22,000 – 21,900, followed by the sacrosanct support of the 89-DEMA around 21,800 zone. At the higher end, 22,200-22,300 is likely to act as intermediate resistance, and a sustainable surpass could only trigger a fresh round of longs in the system.

What are Shares and Types of Shares?

Analysing the F&O data, Ashwin Ramani, Derivatives & Technical Analyst of SAMCO Securities, reveals that both the 21,800 & 21,900 Strikes saw strong put writing. The Nifty has formed a hammer pattern on the daily chart, which is considered to be a bullish reversal signal. If call writers (Bears) exit from the 22,000 Strike, then Nifty is likely to move higher.

Echoing similar terms, Om Mehra, Technical Analyst of SAMCO Securities, said the Nifty has formed a hammer candlestick pattern at the support of its rising trendline on the daily chart, signaling a potential reversal. 

The Nifty may trade within a broader range of 21,950 to 22,250 in the coming sessions. While the Nifty closed above its 100-day Moving Average (DMA), but needs to close above the crucial level of 22,300, to confirm a bullish stance to continue, Om Mehra added.

Bank Nifty halted its eight-session losing streak, showing resilience as it formed a morning star pattern on the hourly chart and rebound from lower levels, closing the session at 47,754. Currently, Bank Nifty is positioned near a crucial rising trendline. The daily Relative Strength Index (RSI) stands at 46 levels. Immediate resistance remains at 48,000; if crossed, we expect a rally till 48,250-48,300, the analyst concluded in the note.

Similarly, Neeraj Sharma, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates suggested that as per the hammer candlestick pattern, as long as the Nifty holds the support of 21,820, the relief rally will continue. The 21-DEMA is placed near 22,315, which will act as an immediate hurdle for the index. Thus, for the short term, we expect a pullback towards 22,300 levels. If the index sustains above 22,315, the pullback rally might test 22,500 levels.

Indegene Share Price Starts Strongly, Opening at ₹655 on NSE with a 45% Premium.

Global markets

Overnight, the US market ended little changed with the Dow Jones snapping its seven-day rally as investors awaited US inflation data and Fed chair Powell speech.

The yield on benchmark the US 10-year notes fell 1.6 basis points to 4.489 per cent. 

This morning in Asia, Nikkei and Taiwan gained over 0.5 per cent each. Kospi was flat. The Bank of Japan on Monday sent a hawkish signal to markets by cutting the amount of Japanese government bonds it offered to buy in a regular operation.

Asian Paints Share Price Today Live Updates: Asian Paints Stock Rises on a Positive Trading Day.

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On May 10, 2024, Asian Paints Share Price Today increased by 2.39%. Shares of the stock closed at 2711. At the moment, a share of the stock is trading for 2775.85. In the upcoming days and weeks, investors should keep a close eye on Asian Paints’ stock price to see how it responds to the news.

Asian Paints Share Price Today: opened at ₹2865 and closed at ₹2844.25 on the last trading day. Asian Paints Market Share The stock reached a high of ₹2865 and a low of ₹2705. The market capitalization stood at ₹259,942.12 crore. The 52-week high for the stock was ₹3566.9 and the low was ₹2766.05. The BSE volume for the day was 275,851 shares traded.

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10 May 2024, 11:47:42 AM IST

Asian Paints Share Price NSE Live: Volume traded till 11 AM is 155.81% higher than yesterday

As of 11 AM, the volume of Asian Paints traded is 155.81% higher than yesterday, with the price at ₹2770.5, showing a 2.19% increase. Volume traded, in addition to price, is a key indicator for analyzing trends. A positive price movement accompanied by higher volume indicates a sustainable upward trend, while a negative price movement with increased volume could signal further price declines.

10 May 2024, 11:36:29 AM IST

Asian Paints share price Today: Hourly Price Movement Update

The stock price has been moving between 2804.12 and 2744.57 levels in the last hour. Traders may want to consider rangebound trading strategies, such as buying near the hourly support at 2744.57 and selling near the hourly resistance at 2804.12.
The hourly support and resistance levels to watch out in the next hour are mentioned below.

Resistance LevelsPriceSupport LevelsPrice
Resistance 12782.95Support 12755.55
Resistance 22795.9Support 22741.1
Resistance 32810.35Support 32728.15

Asian Paints share price Live: Asian Paints trading at ₹2775.85, up 2.39% from yesterday’s ₹2711

Asian Paints share price is at ₹2775.85 and is still trading between the key support and resistance levels of ₹2659.95 and ₹2808.85 on a daily timeframe. If it crosses the support of ₹2659.95 then we can expect a further bearish movement. On the other hand, if the price crosses 2808.85 then it will lead to a bullish movement.

Asian Paints share price live: Consensus analysts rating is Hold

The analyst recommendation trend is shown below with the current rating as Hold.

  • The median price target is ₹3200.0, 15.26% higher than the current market price.
  • The lowest target price among analyst estimates is ₹2410.0
  • The highest target price among analyst estimates is ₹4000.0
RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy2211
Buy7777
Hold11111112
Sell10101010
Strong Sell5554

Asian Paints share price live: Stock Peers

Today, Asian Paints’ stock price rose by 2.41% to reach ₹2776.45, while its industry counterparts are experiencing mixed trends. Solar Industries India is declining, whereas Pidilite Industries, SRF, and Linde India are all showing upward movement. In general, the benchmark indices Nifty and Sensex are up by 0.28% and 0.34% respectively.

NameLatest PriceChange% Change52W High52W LowMkt. Cap (cr)
Asian Paints2776.4565.452.413566.92705.0266316.47
Pidilite Industries2886.5550.051.763116.02293.1146804.73
Solar Industries India8681.35-27.05-0.319429.13456.9578557.59
SRF2310.1518.250.82697.452050.068713.1
Linde India7801.0220.62.918658.93803.5766530.22

Asian Paints share price Today: Volume traded till 10 AM is 168.94% higher than yesterday

The volume of Asian Paints traded by 10 AM is 168.94% higher than yesterday, with the price trading at ₹2765.7, up by 2.02%. Analyzing both volume and price is crucial for understanding market trends. A positive price movement accompanied by higher volume indicates a sustainable upward trend, while a negative price movement with increased volume could signal a potential further decline in prices.

Asian Paints share price Live: Hourly Price Movement Update

Asian Paints touched a high of 2792.0 & a low of 2732.45 in the previous trading hour.
The hourly support and resistance levels to watch out for in the next hour are mentioned below.

Resistance LevelsPriceSupport LevelsPrice
Resistance 12804.12Support 12744.57
Resistance 22827.83Support 22708.73
Resistance 32863.67Support 32685.02

Asian Paints Live Updates

Asian Paints share price Live

10 May 2024, 09:55:08 AM IST

Asian Paints share price live: Stock Peers

Today, Asian Paints’ stock price increased by 1.35% to reach ₹2747.6, outperforming its peers. While Solar Industries India is experiencing a decline, Pidilite Industries, SRF, and Linde India are all showing growth. The benchmark indices Nifty and Sensex are up by 0.27% and 0.64% respectively.

NameLatest PriceChange% Change52W High52W LowMkt. Cap (cr)
Asian Paints2747.636.61.353566.92705.0263549.18
Pidilite Industries2888.9552.451.853116.02293.1146926.79
Solar Industries India8653.0-55.4-0.649429.13456.9578301.05
SRF2327.335.41.542697.452050.069223.21
Linde India7795.0214.62.838658.93803.5766479.05

10 May 2024, 09:44:57 AM IST

Asian Paints share price NSE Live: Futures trading higher by 1.12%; Futures open interest increased by 0.25%

An increase in futures price and open interest for Asian Paints indicates potential positive price movement shortly, suggesting traders may consider maintaining their long positions.

Asian Paints share price Today: Asian Paints trading at ₹2737.6, up 0.98% from yesterday’s ₹2711

Asian Paints share price is at ₹2737.6 and is still trading between the key support and resistance levels of ₹2659.95 and ₹2808.85 on a daily timeframe. If it crosses the support of ₹2659.95 then we can expect a further bearish movement. On the other hand if the price crosses 2808.85 then it will lead to a bullish movement.

10 May 2024, 09:16:35 AM IST

Asian Paints share price live: Price Analysis

The share price of Asian Paints has decreased by -0.86% and is currently trading at ₹2687.55. Over the past year, the price of Asian Paints shares has dropped by -10.89% to ₹2687.55. In contrast, the Nifty index has increased by 20.21% to 21957.50 during the same one-year period.

Time PeriodPrice Analysis
1 Week-8.92%
3 Months-8.74%
6 Months-12.02%
YTD-20.35%
1 Year-10.89%

10 May 2024, 08:49:23 AM IST

Asian Paints share price Update: Key support and resistance levels

The key support and resistance levels for Asian Paints on the daily timeframe are given below. Please note these support and resistance levels are derived from the classic pivot table.

Resistance LevelsPriceSupport LevelsPrice
Resistance 12808.85Support 12659.95
Resistance 22905.85Support 22608.05
Resistance 32957.75Support 32511.05

Asian Paints share price live: Consensus analysts rating is Hold

The analyst recommendation trend is shown below with the current rating as Hold.

  • The median price target is ₹3200.0, 18.04% higher than the current market price.
  • The lowest target price among analyst estimates is ₹2410.0
  • The highest target price among analyst estimates is ₹4000.0
RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy2211
Buy7777
Hold11111112
Sell10101010
Strong Sell5554

Asian Paints share price Today: Asian Paints volume yesterday was 3 mn as compared to the 20-day average of 1404 k

The trading volume yesterday was 172.29% higher than the 20-day average. Yesterday’s NSE volume was 3 mn & BSE volume was 275 k.

10 May 2024, 08:07:41 AM IST

Asian Paints closed at ₹2844.25 on the last trading day & the technical trend suggests a Bearish term outlook

The stock traded in the range of ₹2865 & ₹2705 yesterday to end at ₹2844.25. The stock is currently experiencing a strong downtrend

Gift Nifty Live: Presenting the Gift (SGX) Nifty Index.

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Gift Nifty Live: The leading Indian indices, Sensex and Nifty 50, opened Friday’s trading session higher, however Sensex is starting the day at roughly 72,500 and Nifty is opening below 22,000. Nifty increased by 33.50 points, or 0.15 percent, to 21,991.00, while the Sensex increased by 71.28 points, or 0.10 percent, to 72,475.40.

GIFT Nifty is trading at a premium of 42.50 points, or 0.19 percent at 22,131.50 when opening bell.

The Indian rupee opened a paisa stronger at 83.47 against the US dollar compared to Thursday’s close of 83.50.

Despite the rally in frontline indices, the broader markets are trading with a discount. Nifty Midcap 100 has slipped 41.00 points, or 0.08 per cent lower at 49,071.80 while Smallcap 100 inched 62.05 points, or 0.48 per cent higher at 15,918.90.

Crude oil prices rose on Friday on the signs of an improving economy in China. The prices had edged up in the previous session to a one-week high on data of increasing crude oil imports in China in April

Brent futures rose 37 cents, or 0.4 percent, to $84.24 a barrel, while US West Texas Intermediate crude grew 41 cents, or 0.5 percent, to $79.64.

In Wall Street, softer-than-expected jobs growth in April has brightened investor sentiment this week.

-With inputs from agencies

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SGX NIFTY TODAYS

Last TradeChangeChange in %
 22,189.0+100.0+0.45%
HighLowOpen
22,184.022,045.522,128.0

09:51 (IST)10 MAY 2024

Stock Market Today Live Updates: Broader markets fail to participate in gains today

Share Market Today Live Updates: Despite the rally in frontline indices, the broader markets are trading with a discount. Nifty Midcap 100 has slipped 41.00 points, or 0.08 per cent lower at 49,071.80 while Smallcap 100 inched 62.05 points, or 0.48 per cent higher at 15,918.90.

09:34 (IST)10 MAY 2024

Stock Market Today Live Updates: Sensex, Nifty build up on gains

Share Market Today Live Updates: Indian frontline indices Sensex and Nifty 50 opened around 72,500 and 22,000 marks respectively. The indices extended gains afterward.

Sensex inched 254.84 points, or 0.36 percent higher at 72,676.77 while Nifty inched 92.80 points, or 0.43 percent at 22,047.15.

09:22 (IST)10 MAY 2024

Stock Market Today Live Updates: Sensex, Nifty opens with minor gains

Share Market Today Live Updates: Indian frontline indices Sensex and Nifty 50 started Friday’s session higher as Nifty opened below the 22,000 mark and Sensex around the 72,500 mark.

Sensex inched 71.28, or 0.10 percent higher at 72,475.40 while Nifty inched 33.50 points or 0.15 percent at 21,991.00.

09:12 (IST)10 MAY 2024

Stock Market Today Live Updates: Rupee opens stronger against US dollar

Share Market Today Live Updates: The Indian rupee opened stronger at 83.48 against the US dollar compared to Thursday’s close of 83.50.

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